Continental General Expands Portfolio with Major Insurance Acquisition

Continental General Insurance Company, headquartered in Austin, has strategically expanded its portfolio by acquiring approximately 91,000 insurance policies. This substantial acquisition includes final expense, traditional life insurance policies, annuities, and accident and health policies. Facilitated by the National Organization of Life & Health Insurance Guaranty Associations (NOLHGA), this transaction signifies a pivotal collaboration between key industry players and regulatory bodies.

Initially, these policies were issued by Bankers Life Insurance Company (BLIC) and Colorado Bankers Life Insurance Company (CBLIC). Following the 2024 liquidation of these entities, the state life and health insurance guaranty associations took over responsibility until Continental General assumed obligations on January 1, 2026. This deal encompasses all relevant liabilities and assets, ensuring seamless regulatory compliance requirements and efficient integration into Continental General’s offerings.

With this acquisition, Continental General will manage policy administration and claims processing, applying its expertise in financial risk management to enhance service delivery. Executive Chairman Michael Gorzynski expressed confidence in the transition, emphasizing the collaborative effort with NOLHGA. CEO David Ramsey highlighted this as a chance to broaden their customer base and diversify risk and product offerings, reinforcing the company’s dedication to providing stable, long-term solutions for policyholders.